BidorBuy today announced that it has integrated Paypal payments to its online auction platform. In South Africa, PayPal is linked with First National Bank.
PayPal is however not offered as one of the default payment methods on BidorBuy, and to be able to receive PayPal payments for items sold on the site, sellers need to request this option.
Higgins adds that about 98 percent of all transactions concluded on BidorBuy are done within national boundaries, and for domestic use the company has developed bobPay-EFT, a free internet payment method covering all four big South African banks (Absa, FNB, Nedbank and Standard Bank).
“It has to be emphasised that all PayPal transactions are done in American dollars”, says BidorBuy Managing Director Andy Higgins. “South Africans can’t use PayPal to trade in Rands. That is why PayPal probably will not be used widely in local transactions”.
BidorBuy has over 400,000 registered users and over 370,000 items listed for sale at any moment. The value of goods traded each month reaches about R30 million.
BidorBuy adds Paypal payments << Discussion